Kirsters Baish| A huge announcement was just made that will make liberals eat their words. Baltimore Gas & Electric Company is now lowering their customer rates as a direct result of President Trump’s federal tax reform which was passed by Republicans in December.
It was reported by the Baltimore Sun that Baltimore Gas & Electric Company has estimated that they would be saving around $82 million with the new Tax Cuts and Jobs Act. They also announced that the average residential electric customer should expect to be seeing their monthly bill drop by around $2.31 The Sun wrote, “Bills will go down by an average of $4.27 a month for customers who buy both electricity and natural gas from BGE.”
The electric company supplies the electricity to around a million customers in Maryland and Washington, D.C.
Pepco Holdings, which includes both Pepco and Delmarva Power, had a press release in which they explained that the tax savings were all thanks to the corporate tax cuts which were signed into law by President Donald Trump last month.
These tax cuts lowered BCE’s tax rate from 35 percent all the way down to 21 percent. This took effect on January 1, 2018. On January 5, Pepco made the announcement that they would be filing paperwork with the Maryland Public Service Commission next month. If the paperwork is approved, their paying customers should expect to be seeing lower electric bills starting next month.
CEO of BGE, Calvin G. Butler Jr. explained that it was an easy decision to come to. “We wanted to share those benefits with consumers,” The Sun quoted him saying.
Pepco Holdings President and CEO Dave Velazquez explained that his company was very happy to be able to pass the savings along to their loyal customers.
He stated, “We are pleased to provide these savings to our customers, while at the same time ensuring we are making prudent investments in the local power grid to maintain the safe, reliable, and affordable service our customers have come to expect.”
Pepco isn’t the first corporation to be able to use their savings and pass them along to their customers. It was reported that AT&T, BancorpSouth Bank, Bank of America, Comcast, Boeing Co, and Wells Fargo also were able to share their benefits from tax legislation with their loyal customer base.
It’s great to see that so many companies are able to save money, and it’s great to see these companies sharing the love with their customers. We have the Republicans to thank for these savings. While leftists were adamantly against the tax reform bill every step of the way, claiming that it would do more hurt than help for the middle class and would only help businesses and corporate executives, they were clearly wrong.